Home / Knowledge / News / Textiles / Assam assembly unanimously approves GST Bill
Assam assembly unanimously approves GST Bill
13
Aug '16

The legislative assembly of Assam has unanimously approved the Goods and Services Tax (GST) Bill, becoming the first state to do so. At least 16 of the 31 Indian states including the assemblies of Union Territories Delhi and Puducherry need to ratify the Bill, passed by Parliament, before it can be implemented.

“Proud that Assam is the First state to ratify historic GST Bill, which promises to transform India,” Assam finance minister Himanta Biswa Sarma tweeted at 12 in the afternoon. In another tweet, Sarma said: “Happy to share that Assam assembly has unanimously ratified the GST Bill.”

Once the Bill is ratified by 16 state assemblies, it would receive a presidential assent. Post this exercise, the GST Council will draft the subsequent Central GST, Integrated GST and State GST Bills. The Central government is keen to implement the GST by April 1, 2017, as it would send a positive signal to the industry.

The GST Bill aims at replacing all central indirect levies like excise duty, countervailing duty and service tax, as also state taxes such as value added tax, entry tax and luxury tax, by a single tax pan-India.

Under the GST, there is a provision for states to collect special tax during any natural calamity or disaster, subject to approval by the GST Council. (RKS)

Fibre2Fashion News Desk – India


Must ReadView All

Ghana makes tax stamp compulsory on imported textiles

Textiles | On 27th May 2018

Ghana makes tax stamp compulsory on imported textiles

To curb illegal imports, Ghanaian authorities will put a tax stamp on ...

Courtesy: Vishal Mega Mart

Apparel/Garments | On 27th May 2018

Partners Group, Kedaara Capital taking over VMM

Partners Group, a private markets investment manager, and Kedaara...

Courtesy: Deckers

Apparel/Garments | On 27th May 2018

Deckers Brands sales soar 8.4% in Q4FY18

Deckers Brands, a global leader in designing, marketing and...

Interviews View All

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search